Welcome to a special episode of Trade Compliance Talks, where we dive into the intriguing world of drugs and controlled substances. Join me and my newfound trade compliance friend, Welli, as we uncover the complexities lurking beneath the surface of trade regulations. Ever lifted a compliance rock and stumbled upon a rabbit hole? That's exactly what happened as Welli guided me through the labyrinth of trade compliance related to drugs and controlled substances. With each minute, I discovered something new, and I guarantee you will too. So sit back, relax, and prepare to embark on a journey of discovery. Enjoy!

Reach out to Welli on LinkedIn!

I had the most pleasant ITAR releated conversation with Steven, Steven delves deep into the intricacies of the Arms Export Control Act (AECA) and the modalities of arms sales, including Foreign Military Sales (FMS) and Direct Commercial Sales (DCS) processes.

Steven explores the objectives of the AECA and its integration with other US laws and regulations concerning arms transfers. Our expert shares insights into the challenges faced in understanding and complying with the AECA.

Next, we dissect the major differences between FMS and DCS processes, outlining the roles of key actors involved and situations where one process might be preferable over the other.

Moving on, we unravel the mechanics of ITAR licensing, focusing on its application to the DCS process. Steven demystifies the types of items subject to ITAR licensing, delves into the various types of licenses available, and discusses common pitfalls exporters should be wary of.

Finally, we address the requirements exporters must adhere to post-approval of an export license, including end-user and end-use verification procedures, compliance with recordkeeping, and reporting requirements. Our discussion also encompasses the consequences of non-compliance with export control regulations and strategies for mitigating them.

Dive into the heart of corporate compliance with me in the latest episode of Trade Compliance Talks! Unravel the significance of education within your Internal Compliance Program (ICP) and discover how it ensures every colleague is aligned with your company's trade compliance needs. From DIY strategies to the perks of outsourcing, we explore the ins and outs of trade compliance training. Joining me in this insightful discussion is none other than Mr. Scott Gearity from ECTI bringing you expert insights and valuable information.